Six-Unit Apartment
For Sale
$819,900
300 Friedensburg Road, Reading, PA 19606
Fully occupied residential property with varied apartment layouts, wood flooring, patios, balconies, and porches.
Property Size5,768 SF
Price / SF$142.15
Days on Market803
Property Features for 300 Friedensburg Road
General Information
Standard status
Active
Size
5,768 SF
Property subtype
Multi-Family / Fee Simple
Zoning
MULTI
Occupancy
100%
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$7,528
Amenities
No
Refrigerator, Stove
Carpet, Ceiling Fan(s), Combination Dining/Living, Dining Area, Family Room Off Kitchen, Kitchen - Eat-In, Kitchen - Efficiency, Bathroom - Tub Shower, Wood Floors
Other
No Pool
Above Grade, Below Grade
Fire Escape, Satellite Dish, Sidewalks, Street Lights
Balcony, Patio(s), Porch(es), Roof, Wrap Around
Building Details
Year Built
1920
Listing Agency:
Pagoda Realty
(610) 927-7466
Listed By:
Jimmy Thelusca · License #RS333622
(610) 927-7466
Source:
Compass
Added: Jun 20, 2024
Changed: Aug 29
Last Checked: Aug 30 at 11:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pagoda Realty
Investment Insights
Based on property information with market context.
This fully occupied apartment property contains 6 residential units within a 5,768-square-foot building constructed in 1920. Interior features vary by apartment and include refrigerators, stoves, carpet, wood floors, ceiling fans, dining areas, eat-in and efficiency kitchens, family rooms off kitchens, and tub-and-shower bathrooms. The building also offers above-grade and below-grade space.
Exterior amenities include balconies, patios, porches, a wrap-around porch, sidewalks, street lights, a fire escape, and a roof. The property is located at 300 Friedensburg Road in Mt. Penn Boro, within Berks County, and is zoned MULTI. The property falls within the Antietam School District.
Exterior amenities include balconies, patios, porches, a wrap-around porch, sidewalks, street lights, a fire escape, and a roof. The property is located at 300 Friedensburg Road in Mt. Penn Boro, within Berks County, and is zoned MULTI. The property falls within the Antietam School District.
Key Highlights
- 6 residential units, fully occupied
- 5,768 SF apartment building constructed in 1920
- MULTI zoning in Mt. Penn Boro
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,703
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$994,060
$994.1K
Cap Rate 7%
$710,043
$710.0K
Cap Rate 9%
$552,256
$552.3K
Market Conditions
NOI Build-Up for 5,768 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$94.1K $16.32/SF
− Vacancy
−$3.8K −$0.65/SF
EGI
$90.4K $15.67/SF
− OpEx
−$40.7K −$7.05/SF
NOI
$49.7K $8.62/SF
Area
Berks County, PA
Vacancy
4.00%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$994,060
Cap Rate 7%
$710,043
Cap Rate 9%
$552,256
Alternative Uses
Best Use
Apartment 5plus
$710.0K
$621.3K – $828.4K
NOI $49,703 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$946.9K
$828.5K – $1.10M
NOI $66,281 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 19606, PA
35,153
Population
14,593
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
26.7 sq mi
ZIP Area
1,317
Density / Sq Mi
$81,872
Median Household Income
$45,583
Median Earnings
$1,282
Median Rent
$229,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied residential property with varied apartment layouts, wood flooring, patios, balconies, and porches.
Where is this apartment building located?
The property is located at 300 Friedensburg Road Reading, PA.
What is the asking price?
The asking price for this property is $819,900.
What are key features of this property?
This property features: 6 residential units, fully occupied; 5,768 SF apartment building constructed in 1920; MULTI zoning in Mt. Penn Boro
